Europe’s best kept secret: Poland, the region economic tiger ncvrs.com

Nothing seems to prevent Poland to strength, even though it is part of the slow European Union. There are many reasons why and many aspects, including the country’s outstanding defense expense and a conservative approach to prohibited immigration.

At the end of last month, the Poland’s economy estimated it by 2.9% last year, according to the country’s statistics. This performance reflects more than three times the unified currency of Europe, also known as the euro area; It was only 0.7% during the same period.

Poland’s growth also surpassed the United States, which was 2.5% robust in December 12 months.

“For the past or two years, it has boosted,” says Mateusz Urban, senior economist at Oxford Economics, Poland, Fox Business. “There is actually a European tiger on the German door.”

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This is not a one -time event. By 2024, the Polish economy had grown 11 times as much as in 1986. This is significantly higher than the United States, which has made its economy six times as much during the same period, according to Trading Economics.

According to Urban, most of Poland’s rapid growth was the liberation of human capital after the collapse of the Soviet Union. For many decades, the Soviet Union has made a lot of efforts to teach people in mathematics, science and engineering, and the ongoing effects of universities and schools are still highly appreciated.

“This type of institution has a long life inheritance,” Urban said. “After 1989, Poland inherited a fairly well -organized system in which many professionals were produced in mechanical engineering and IT technology.”

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Focusing on science, technology, engineering and mathematics promoted the country to build an impressive technological sector, which estimates $ 32 billion, or 4.5% of the economy this year, according to the Mordor Intelligence Research Company.

Polish workers are also “very diligent, high -quality and cheaper to employ than people in the UK,” said Elias Haddad, a leading market strategy for Brown Brothers Harriman in London.

Another factor in Poland is the appointment of EU veteran, Donald Tusk Prime Minister in December 2023. The Polish Legal and Justice Party led by Mateusz Jakub Morawiecki was sanctioned by the European Commission (EC). The belief that Poland’s judiciary was not independent of the government.

“The party has not followed some of the EU rules,” says Haddad.

As a result, the EC has withheld EU funds, which served to help Poland. But now, when the tusk is firmly in the hot session, the EU money has to be released, so the economy gives another momentum.

While the country is growing rapidly, it is on the front line of NATO, the military alliance was based on World War II bordering Ukraine. The country is expected to spend 4.7% of its GDP this year, a higher percentage than any other NATO member, and has led the road in 2024.

“We are aware that Germany will not be able to save Poland,” says Urban. “This is the reason why the government is pushing costs to nearly 5% of GDP.”

According to the World Bank, Germany has not been committed to NATO for decades to spend at least 2% of GDP on defense. He reached 2.1%in 2024.

While Poland responded positively to the war of Ukraine-Russia at that time, it also took over the burden of more than 7 million refugees from Ukraine.

“Since the war, we have become an attractive place for immigration and refugees,” said Marcin Klucznik, a leading advisor to the Polish Economic Institute World Economic team, Fox Business.

However, this enormous influx has discussed the discussion of who wanted to attract Poland to his country, says Klucznik. Last month, Rafał Trzaskowski, a candidate for the Polish Presidency, asked the government to stop paying so-called child benefits to the Ukrainians with children, but who are not officially working. He claimed that only those who and who paid tax would receive help from the state.

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According to Clucznik, the country is conservative and cautious with its immigration policy.

“We are aware of some other European countries, such as Germany, France and the United Kingdom, and we want to avoid this.” he said.

In particular, these three major countries could not fully integrate many immigrants into local culture.